1y ago

Stability AI CEO resigns because you can't beat centralized AI with more centralized AI

techcrunch.com

Stability AI CEO resigns because you can't beat centralized AI with more centralized AI | TechCrunch

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1y ago

Stability AI CEO resigns because you can't beat centralized AI with more centralized AI

techcrunch.com /2024/03/22/stability-ai-ceo-resigns-because-youre-not-going-to-beat-centralized-ai-with-more-centralized-ai/

18 comments

Am I the only one who feels dotcom vibes around this field?
- I expect this to proceed similarly: many companies and funding dollars will burn in flames and still, the world will be a different place in a decade thanks to this technology.
  
  Why am I feeling it isn't going to be a repeat of the standards-driven co-operative development supported by open source software infrastructure that occurred during the decade and a half after the dotcom bubble.. I have a feeling it would resemble the pre mass computing world of AT&T, GE and IBM.
- Same with crypto right? It's the standard new tech comes out and 100 companies tries to capitalize and maybe 5% will survive.
  
  This is the correct answer. Consolidation of resources and power. Sure there will still be those on the periphery trying to make something from the eddies and currents left in the wake of these massive corporate ships cruising by, but the vast majority of the little guys will drown. Unfortunately I don't see another way for humanity to galvanized enough resources to create AGI in our lifetime. So there will be consequences, but such is life, the biggest mold gets the food. Then come the viruses.
- I love when ppl call out the dot coms as of the winners of the dot com bubble aren't still around.
  AI will not burst. There is too much value there to too many industries.
  Name one business that doesn't have a web domain and or FB page. In 20 years u won't be able to name a company that doesn't use AI in some way.
  
  Isn't that the same thing they said about crypto?
Yeah, right. He resigned because they raised $100m and was burning through at least $8m a month. A bunch of staff left and he failed to commercialize or find a partner with deep pockets — like OpenAI with Microsoft — to lower costs. (OpenAI gets a ton of compute credits from Microsoft). Whatever the technical merits of stability AI is, it’s a shitty business.
And that’s just what’s public info. He probably was offered the opportunity to resign or be fired by their board.
- I'm amazed they were able to achieve anything with him at the helm
This is the best summary I could come up with:
Stability AI founder and chief executive Emad Mostaque has stepped down from the top role and the unicorn startup‘s board, the buzzy firm said Friday night, making it the second hot AI startup to go through major changes this week.
Stability AI, which has been backed by investors including Lightspeed Venture Partners and Coatue Management, doesn’t have an immediate permanent replacement for the CEO role but has appointed its COO Shan Shan Wong and CTO Christian Laforte as interim co-CEOs, it said in a blog post.
He additionally asserted that it was his decision to step down from the top role as he held the most number of controlling shares.
In a post on X last year, he expressed his amusement at the generative AI companies’ “strange focus on revenue” even as “the technology is useful but far from vaguely mature as new breakthroughs happen almost daily.” He cited several examples, including MagicLeap, which spent billions before generating revenue.
“The payoffs on proper generative AI R&D are clearer and faster to market than just about anything we’ve seen.
It’s going to create way more economic value than self driving cars for example, the total investment in that has been $100b with no revenue pay off,” he wrote.
The original article contains 546 words, the summary contains 207 words. Saved 62%. I'm a bot and I'm open source!

18 comments